Mortgage Rates Break 4% Again Before Falling Back to 3.93%

Mortgage rates for 30-year fixed loans fell this week, with the rate borrowers were quoted on Zillow Mortgages at 3.93 percent Tuesday, down 2 basis points from the same time last week.

The 30-year fixed mortgage rate rose to 4.03 percent Friday and remained there through the weekend, then dropped to 3.88 percent Monday before returning to the current rate.

"After moving higher on Friday, rates fell as markets absorbed the shock of Greece's decision to close its banks leading up to a referendum on its debt negotiations," said Erin Lantz, vice president of mortgages at Zillow. "Greece will likely dominate financial headlines again this week, but Thursday's early jobs report could move markets if lenders don't clock out early for the Fourth of July holiday."